Illinois General Assembly - Bill Status for SB1455

Synopsis As Introduced
Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2026, the deferred compensation plan shall provide for the recovery of the expenses of its administration by charging fees equitably prorated among the participating employers (instead of by charging administrative expenses against the earnings from investments or by charging fees equitably prorated among the participating State employees or by such other appropriate and equitable method as the Illinois State Board of Investment shall determine). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions

Date	Chamber	Action
1/31/2025	Senate	Filed with Secretary by Sen. Robert F. Martwick
1/31/2025	Senate	First Reading
1/31/2025	Senate	Referred to Assignments
3/12/2025	Senate	Assigned to Pensions
3/19/2025	Senate	Do Pass Pensions; 007-003-000
3/19/2025	Senate	Placed on Calendar Order of 2nd Reading March 20, 2025

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